UXLINK Secures Over $9M in Funding - Blockchain.News

UXLINK Secures Over $9M in Funding

UXLINK, a Web3 social platform, secures $9M funding led by OKX Ventures, Web3Port Foundation, and HongShan, for its bi-directional social networking approach, marking global confidence in its innovative model.

  • Mar 13, 2024 17:09
UXLINK Secures Over $9M in Funding

UXLINK, a Web3 social platform and infrastructure, has marked a significant milestone in its journey, securing over $9 million in a recent funding round. This financial infusion is led by notable investors such as OKX Ventures, Web3Port Foundation, and HongShan, alongside a consortium of strategic backers from diverse regions including North America, Asia, and the Middle East, highlighting the global confidence in UXLINK's innovative approach to Web3 social networking​​​​​​.

The platform distinguishes itself by emphasizing bi-directional, acquaintance-based social relationships, setting a new paradigm in social interaction within the Web3 space. Unlike conventional social infrastructures that focus on unilateral, follow-based dynamics, UXLINK introduces a more interactive and mutual relationship model, akin to the transition from platforms like Twitter to more relational spaces such as Facebook​​.

A cornerstone of UXLINK's rapid growth and market attention is its innovative product offerings, including the Social DEX module and UX Growth (Link to Earn) module, underpinned by unique data integration and the RWS social protocols. This strategic foundation supports the forthcoming launch of a Social Liquidity Chain leveraging OP Stack L2 and EigenDA technologies, aiming to enhance support for developers and third-party Dapps​​.

The platform's compelling growth narrative is further validated by its impressive user engagement metrics. Since its product launch in April 2023, UXLINK has attracted over 3.5 million verified users and facilitated the creation of more than 75,000 decentralized groups, collectively reaching over 6 million users across key global markets such as Southeast Asia, the Middle East, Europe, South Asia, and Africa​​.

Recent achievements underscore UXLINK's market resonance, with a groundbreaking campaign in early 2024 leading to the creation and connection of 978,000 new Web3 wallet addresses and a deposit asset accumulation of $78 million. This feat not only demonstrates the platform's capability to engage a wide user base but also underlines the high trust and efficiency facilitated through its unique social networking model​​​​​​.

UXLINK's roadmap includes the ambitious Odyssey Airdrop initiative's third phase, promising new features like wallet registration, binding, and check-ins, alongside rewarding community engagement through token incentives. The initiative's success, evidenced by the participation of over 40,000 individuals, hints at the platform's potential to become a cornerstone in the Web3 ecosystem, offering a next-generation traffic and protocol-based infrastructure​​.

The recent funding round not only fortifies UXLINK's financial foundation but also reaffirms the tech and investor communities' belief in its innovative approach to Web3 social networking. With a vision to harmonize Web3 services with mainstream social platforms, UXLINK is poised to redefine user experience in the decentralized web, fostering a more connected and accessible digital future.

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